Re: EUR/USD
1182That candlestick on the weekly time frame looks like a signal for a significant move north eventually.
Re: EUR/USD
1183On the weekly we have a downward trend and then a Pb.mlawson71 wrote: Fri Dec 03, 2021 1:40 am That candlestick on the weekly time frame looks like a signal for a significant move north eventually.
The last weekly candle is higher than the one before. That means that the upward correction is still continuing.
Daily is in an upward channel.
As far as I can see there is no indication (as yet) that the downward trend on the weekly chart has been broken
a) higher high
b) higher low
Instead we have lower highs and lower lows = downtrend
Re: EUR/USD
1185As you can see on the Daily it is bound to end fairly soon - one way or the other.mlawson71 wrote: Sat Dec 04, 2021 4:24 am At this point I'll just be happy if the consolidation ends next week.
As for Friday - if you used the daily TLs as entry points there were two very brief trades.
But as you tend to say: it's too late for that now.
Re: EUR/USD
1186Thanks for that analysis!
I prefer to wait for the end of the consolidation before I open a new position, I'm not too comfortable trading it when it's so undecided.
I prefer to wait for the end of the consolidation before I open a new position, I'm not too comfortable trading it when it's so undecided.
Re: EUR/USD
1187mlawson71 wrote: Tue Dec 07, 2021 2:11 am Thanks for that analysis!
I prefer to wait for the end of the consolidation before I open a new position, I'm not too comfortable trading it when it's so undecided.
Not for very much longer...
Re: EUR/USD
1188After ZEW report, saddened economic outlook fades the traders perception. Seems like the next strong support to be at lower than the first at 1.1232